OLO (NYSE:OLO) Issues Earnings Results, Hits Expectations

OLO (NYSE:OLO) issued its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05, Briefing.com reports. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm had revenue of $66.51 million for the quarter, compared to analyst estimates of $64.22 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The firm’s revenue was up 27.3% compared to the same quarter last year.

OLO Stock Down 1.1 %

OLO stock traded down $0.05 during trading hours on Wednesday, hitting $4.64. 1,616,052 shares of the company traded hands, compared to its average volume of 953,524. The firm’s 50-day simple moving average is $5.22 and its two-hundred day simple moving average is $5.35. The firm has a market cap of $751.22 million, a P/E ratio of -14.14 and a beta of 1.29. OLO has a 1-year low of $4.25 and a 1-year high of $8.84.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, OLO has an average rating of “Moderate Buy” and a consensus target price of $9.10.

About OLO

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.